The Carlyle Group has entered into an agreement to acquire a majority stake in fund administrator Conifer Financial Services. Founded in 1989, Conifer offers front-to-back office capabilities across all asset classes to pensions, endowments, family offices, PE and VC managers, and hedge funds. It currently serves over 200 clients worldwide, representing more than $100 billion in combined assets under administration. Carlyle's investment will come from its $1 billion Global Financial Services Partners II vehicle, which closed last June. The deal is expected to close in 2Q.